• Chris Gabriel, YouTuber discusses the relationship between the meme economy and the crypto space.
• He says that crypto rises and falls with belief or “vibe”.
• Popularity cannot be explained with rationality, even though success may be tied to established foundations.

Chris Gabriel, the host of the YouTube channel MemeAnalysis, which studies internet memes, shared the meaning of “The Meme Economy”.

Gabriel believes that although many think the value of crypto only lies in a set of complicated technologies, the actual value is entirely “memetic”.

According to YouTuber, memes are a hard word because they have been so closely linked with Internet jokes. But he explained that memes could be described as units of cultural transmission. The culture of memes allows for endless reproduction.

According to him, all currencies are based on memetics and crypto is closest to that source. He says that crypto rises and falls with belief or “vibe”. The crypto market is known for its big spikes and crashes, but few people really understand them.

Gabriel used the example of memetic (DOGE), specifically. Due to celebrity support, the DOGE price shot up from just a few cents to an all-time high of 74c during the pandemic. At the moment, as interest in the meme coin faded, it is “down to pennies again.”

The inconsistent adoption of crypto projects is also one of Gabriel’s interests. Some projects achieve great success, while others die or fail. This is very apparent in the industry of non-fungible tokens (NFT), where low-quality projects make millions and others almost nothing.

Gabriel views memetics as the study and application of severeness. How does art become popular and how do successful businesses achieve this? These questions are difficult to answer, and he believes there is almost no logic. Popularity can’t be explained with rational terms, even though success may be related to established foundations. Success and failure “are totally random.”

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